Wellness, Beauty, and Health Industry Insights: US
In general, there is huge spending in the US health, wellness, and beauty industry. In terms of sales channel, Amazon is the leading player. Below is a detailed report on insights into the health, wellness, and beauty industry in the US.
There is Huge Spending on Beauty, Health & Wellness products
- US consumers are spending more than $100 monthly on wellness, health and wellness products. This totals $1,300 per year.
- Consumers are spending more on nutritional supplements like minerals, vitamins, herbal and sports nutrition products. In addition, there is huge spending on skincare products like lotions, creams, and sunscreens.
- On average, consumers who primarily buy one category also end up spending $450 in another category per year.
Amazon is a force to be reckoned with
- Although a considerable number of consumers buy health, wellness, and beauty products in drugstores, Amazon still commands the lion's share in terms of sales volume.
- This is mainly because consumers are looking for convenience when shopping as well as quality and trust in the products the purchase.
- Amazon is the number one preferred channel for nutritional supplements and the number two preferred channel for skincare products.
Generational Differences in Spending and Shopping Habits
- Although spending on nutritional supplements generally increases with age, millennials are spending higher than either gen Xers or boomers on skincare products.
- In terms of channel, millennials prefer buying from Amazon for both skincare and nutritional supplements. Amazon is the channel of choice for both millennials and gen Xers when buying nutritional supplements.
- According to Market Watch, key players in the health, wellness, and beauty industry in the US are Aleias Gluten Free Foods LIC, Food For Life Baking, and Cybex International Inc.
Aleias Gluten Free Foods LIC
- Aleias is one of the key producers of certified gluten-free foods in the US.
- The company is owned by women, certified by the Women's Business Enterprise National Council (WBENC), and only uses clean, simple ingredients.
- The company's products are created by a qualified chef from the Culinary Institute of America, one of the best culinary school in the world.
Food For Life Baking
- Founded in 1964, Food For Life Baking has over 50 years of experience in the health, wellness, and beauty industry in the US, and offers more than 60 products.
- The company uses organic ingredients in most of its products. In addition, the company does not use any genetically modified organisms (GMOs), preservatives, shortenings or refined sugars.
Cybex International Inc
- Cybex International is a leading producer of premium commercial fitness equipment targeting both first-time users and professional athletes.
- The company has been dedicated to exercise science through the Cybex Research Institute and is currently leads the fitness industry in offering scientific basis for the development of exercise gadgets and machines that improve human performance.
- Cybex has more than 90 patents.
We managed to get additional insights into the health, wellness, and beauty industry in the US from published market reports and other industry publications. However, although these reports listed the key players in the industry, they lacked data on the market share of the various players.
Next, we searched for any annual reports published by the respective companies. However, all these companies are private companies and are not obligated to publish their annual reports. We searched the reports on the companies' websites as well as on market research websites like Market Watch, Forbes, and Euronometer, among others.
Finally, we searched review websites like Indeed and Glassdoor for the market share. These sites only gave brief information about the companies and their products. In addition, review websites listed competitors of the respective companies. Since we could not get the market share, we used other metrics that show their position in the industry. These include industry experience, experience in a certain field and number of patents.